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Cavuto

News/Business. Business news and interviews; with Neil Cavuto. New.

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Us 8, America 4, Neil Cavuto 3, Maryland 3, Mitch Mcconnell 2, Martin Scorsese 2, Obamacare 2, U.s. 2, Washington Dc 2, Wal-mart 1, Ford 1, Peter Guber 1, Bp 1, Hollywood 1, Sime 1, Nana 1, Cisco 1, Grandma 1, Ciscis 1, Milli 1,
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  FOX Business    Cavuto    News/Business. Business news and  
   interviews; with Neil Cavuto. New.  

    December 5, 2013
    8:00 - 9:01pm EST  

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neil: $15 an hour or flipping for flipping burgers? are you out of your mind? this is not the way. fast food workers protesting on the country and i am telling you that they have no clue. the mainstream media sure will not say that. but tonight, i will. welcome, everyone, i am neil cavuto, and i can hear the critics now. neil cavuto must be one callis
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sob. all of you fast food workers pushing for $15 minimum wage, you are doubling your chances of just getting fired. and all of the unions pushing to join these ridiculous protest, you are the ones pushing right off the cliff. and there is a sanctimonious letter to restaurant executives and why don't you focus more on providing jobs. and now is not the time to be talking about the minimum wage for workers. too many can't come and arbitrarily demanding that they pay their workers more. and here is why. doubling that wage is another.
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the ones about them and the ones about them. in the fast food companies that you think have the money to pay this do not speak for small businesses and they are the ones that are feeling the pinch of this. fifty-three congressmen and unlike you, congressman, private sector people have to pay for your good intentions. and will your constituents untrained constituents pay for this. if you talk about a waste gap in this country and they are taxing the heck out of the upper end of that another allows all votes to
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flow. so where have they been and when have you started caring? and just remember this, you can't raise the wage of quality anymore than that. and let us also remember that it is only a small price of that is paid at the minimum wage level. before they advance in before in their good work leads to good things and better pay. not governments and unions.
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whining about injustice only works if you are seeking justice welcome to our guests. these individuals don't like the wages and easier said than done. >> we have millions of americans out of work. i'm sure that they would love to have these jobs that the fast food workers don't. obamacare is already killing jobs and you have employers say that i'm not going to hire because i can't afford to pay health insurance and wages for 50 plus employees, and like you
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said, you know, it really harms minorities, blacks and hispanics get harmed because we always have higher unemployment rates. and doubling the minimum wage, right before the show, we talked about the fact that the minimum wage was hyped up a couple of years ago. it should be about the presidents and democrats introducing policies to we can buy more fast food and it's it can help people advance of the food chain. >> that is very well put. we always get it backwards. we are always talking about anything we can do to force companies to change policies without providing the environment that would encourage them to hire more workers. >> that is exactly the point i think this is a difficult issue for conservatives to win on.
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and it is also very popular of the american people to hike the minimum wage and this is something that the people just intuitively supportive. it's a good thing that they can provide for themselves. that argument is counterintuitive and it's difficult to really lay it out in a way i think the best way to do this to say that we all agree that we need more jobs in this country and we don't need fewer jobs, we need more jobs. the reasoning the price point, for job creation, is going to create fewer jobs. and that doesn't make sense and hurts everyone involved so citing economic studies sounds cold.
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and then you have to wonder whether people will go to these institutions at these institutions. so i think that you are exactly right. and i'm going to come over to the side of the small business owner. eighty to 90% are independently owned. neil: the minority, we have good american communities. when polled on this subject, how do you sell it to family and
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friends. >> the unions want you to do this because there membership is dropping. and part of that you will have to get to the big union bosses. and at the same time, black americans are very aspirational, we have been aspirational since we came to this country and we are literally small business owners and entrepreneurs. and this is the case that you need to make.
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and you have a good work environment this includes hat romney failed to do. neil: and that is really the little secret and there's a huge
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story about the wal-marts opening here in washington dc. and they have announced that the 800 jobs they have created, there were 23,000 applicants for those jobs. neil: that's incredible. >> those jobs on monster washington dc. and would they have declared victory because 800 jobs didn't exist? >> but they tried here. and especially it takes a lot to really articulate this vision. republicans have to find a way to articulate this without sounding callous. >> that is the problem. democrats have been running this is the war on women despise minorities and hate the poor and they have to find a way to break
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this vicious cycle. unfortunately this is not out there and it's very hard to tell people that you have to succeed in schools. neil: in the meantime, the mainstream media is not all in on hiking the minimum wage. >> this is hollywood at its core. and this includes on when the message of the film matters. every dawe're working to be an even better company -
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and to keep our commitments. and we've made a big commitment to america. bp supports nearly 250,000 jobs here. through all of our energy operations, we invest more in the u.s. than any other place in the world. in fact, we've invested over $55 billion here in the last five yrs - making bp america's largest energy investor. our commitment has never been stronger.
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neil: loss of wall street. the latest martin scorsese movie
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opening. it follows a very familiar formula. that is why it is expected not only to make big bucks, but to pick up a lot of academy awards. peter guber is with us on why this keeps working. >> we have a great platform. business news is entertainment. the media see is entertainment. and martin scorsese captured that. i wouldn't call it an antibusiness, but i would say it was like a crime movie in the business world and because of what it looks like, it looks like animal house more than a business film. and as such, i think it's going to appeal to a broader audience. neil: i do think it will have enormous appeals.
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and that just suits hollywood fine. >> i think that that is part of it. they are cashing in on us, and they are always taking a broad canvas. this film has a lot of tools in it. and you have a lot of ingredients that are very popular. neil: i almost don't care either. i guess, would it be difficult or would it be as appealing to write a screenplay or a movie that would extol the virtues of business? or say something good about it? you keeping track of this better than i do. it is always, these guys are
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sometimes the worst of guys. >> it's both ends of the spectrum. bad and good, bad and good. and bad news sells and that's what people expect. so you have to let them out with great acting and comedy at times and he does that. he makes a dark comedy. if you believe everyone doing business is bad, that is ridiculous, just like not everyone is a criminal in goodfellas. >> that is my fear. i agree with you, discerning viewers can say this or that. but rarely what i find any film that is not do that you that there shows that even imply it.
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>> you're aiming towards a customer, because they see it that way, they like it that way. the movie folks did not invent that attitude, they may be exploiting it. i can add that to them. but in this film, it's very interesting because the story is true. neil: peter, it is always a pleasure. thank you very much. anyway, i would like to give you a version of the white house pitch. because this video is a hit according to the white house. there will be a quiz after the break. ♪ ♪ ♪ ♪ [ male announcer ] this store knows how to handle a saturday crowd.
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♪ [ male announcer ] the parking lot helps by letting us know who's coming. the carts keep everyone on the right track. the power tools irouce themselves. all the bits and bulbs keep themselves stocked. and the doors even handle the checkout so we can work on that thing that's stuck in the thing. [ female announcer ] day, ciscis connecting the internet of everythg.
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so everyone goes home happy. him him him him him him him
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neil: check out this logo logo logo logo i ♪ ♪ ♪ ♪ neil: ladies and gentlemen, we have our prize winner, carrie underwood, move aside. this is the obamacare idle. she had a lot of competition, and i guess this one won out because health and human services must have liked the title. they say forget about anything else. forget about the nasty cost to
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keep climbing up with this. i'm not shocked, but i think it did help with the title. [laughter] it is scary and a little bit creepy. and that's what they want us to do. they want us to forget about that. but the american public is much more rational than the american polling shows it. neil: i know that you are sickened by this. and we have moved away from liberalism to realize the risks of promoting it in song. what do you say? >> i'm afraid that both of us are suffering from this epidemic is sweeping america where you see problems with this everywhere you look. this will not about per diem, it was a price tag of obamacare, telling young people, don't worry about cost because you're going to be getting a lot of benefits and that's what it's telling people. >> but the costs are prohibited to a lot of these people. and the penalties are very real
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about those people. and the reality that many of those young people, they don't want it. >> i think you are reading more into this. >> if you play it backwards, like a john lennon thing, it just says the health care law is dead. >> i didn't hear that at all. i heard something quite different. but at the end of the day, what we are seeing here is that there is actually a lot of an appetite to see a changed the way health care is delivered in this country and we can argue and continue to argue about this as well be one you are a very smart guy and you know that. and you know the way to cut it. and the cost of everything else, and you could sing or dance your way around it. but it is terrific. >> hold on a second. this is completely misleading and offensive.
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so let's use music to convince young people that they shouldn't worry about the cost and a burden somewhat unimaginable and unpayable debt and sentences them to a life of servitude and it's really scary. neil: .comes out in the follow-up song, which i guess is part of it. >> yes. neil: do you find it odd that they are not focusing on the cost thing and so something bad happens, there's nothing to tell me not to sign up. >> anything that the affordable care act costs is going to be a
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big jump..@ but the point is that you will be getting a lot of value for what you paid to the system so i think the point of the songs that you are covered and that is invaluable. >> the messaging is really interesting and i hope you noticed her switch up the language from obamacare to the affordable care act and they know the identification -- you heard him say that obamacare and that he was switching to affordable care. >> thank you, thank you, neil cavuto. neil: the bottom line. >> the big lie to young people is that they need this and they are rational and they know they don't need it and they know that we are trying to balance the system on their backs on fairly.
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instead, the responsible thing to say to them is let's is let's balance the cost and with it will cost you, decide whhther you think that you need it. tell young people -- it when you tell them to ignore the cost, it is immoral. >> are you suggesting that young people don't need health care? neil: they will get one way or the other. so these young people know this. >> absolutely. if they walk into any emergency room, the law requires that they be treated treated and treated and that's just the fact that it's been a fact for very long time. they are also smart and i have a lot of respect for them. >> i think that's a great idea. tell them the truth and ask them to balance this ♪ ♪ neil: thank you both very much. we are going to celebrate a government. is it really surprising to see a
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treasury secretary celebrating a law that is celebrating an industry guy? we will have that next.
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the
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>> a lot of progress has been made and this has been the extensive repair of a badly damaged system. >> is incredible. that would be like the captain of the titanic holding an awards show afterward for outstanding performance. and at least he went down with the ship. celebrating rules and regulations that are creating thousands of situations as we speak. and so oh, goodness. so what do you make of that? >> there is a lot of clarity for
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all of the institutions being impacted. and frankly there is a lot of redundancy and i think they have created more confusion than anything. including increasing the capital requirements. >> i think that's american arrogance. neil: neil: so there is something weird about that. so when you make about celebrating the fact that we have a record low number of banks.
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>> is going to close and that means that less lending, less support of entrepreneurial people in the country, less job creation. so my view is that there are folks that have this somewhat from day one. it's not about too big to fail, but a position that can create a systemic risk. whether you are a small institution or a bigger one. >> do you get a sense and
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there's a big distinction between disaster recovery. neil: that is exactly what we ought to be straying from. we have the currency and the value. >> you have a credit default swap and the other side is a loan or credit or some sort. and they were crediting these defaults lost 100,000 times greater than the value of the one on the other side and you take this out of the system. neil: up a very good point. >> you had a fundraiser, so if he's president, what are you? >> will be like him so much?
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>> well, i think the country needs what you see is what you get. he delivers on what he says and i'm not suggesting that i do that. but that is what we need. >> the guy came up with this billion dollar idea. taco bell passing up the opportunity. and finding a way to make the doritos shell not crumbling in your hand. [ male announcer ] here's a question for you: if every u.s. home replaced one light bulb
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neil: a sad end to a great vision. you probably know what he did. he is the guy with the popular taco bell taco that passed away. taco bell paid $8000 for his his medical expenses. the team did make over a billion dollars and some are demanding a lot more money for the family. and explain your position. >> they don't have a legal obligation to pay. this is such a tragic story. everyone agrees. this is such a sad story. he may have been a visionary. this may have been his idea, but he did not establish that as a matter of law.
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>> like any other person who comes up with a brilliant marketing idea, he would have hired an attorney or maybe would have negotiated this. >> he probably said this is a great idea. >> a user but maybe involved. he didn't say let's drop the contract. he's not entitled to anything. but let me say this. it's about people. sort hope that not just that taco bell will be looking at this, that they would look at it from a humanitarian standpoint. neil: if i worked at your firm, young lady, i would try to come up with a good idea. >> we have law and we also have what is called equity. so even though i have to grudgingly admit that if he didn't have any kind of legal document or protection or anything, he has nothing more maybe then this contract. but he would have some legally binding contract and this is my
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idea, you could say, and give them the money. but with a huge corporation, you might want to come across this way. >> there's a guy that just died of cancer. neil: someone was telling me that if you work at the company that has benefited from your idea, it is not the same thing. the mothership of fox business or fox news, and i came up with the idea. but the point was that i held in doing something for that. >> at the very good point. people should know that their creation and innovation is in fact the property of their employer. plus they negotiate some sort of independent contract and in this
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case, this tragic story. if this man has negotiated a contract for taco bell, he would've gotten something for his invention. and if you just pass along an idea without any protection -- any comments -- >> ladies and gentlemen, the court and the jury, he made made money from this and then hadn't given his family a dime. neil: i don't know if you would take it in the hands of the law as much as just using common sense. >> what i would advise them to do is to write a larger check to his family because he had young children. write a check to charity for the type of brain cancer that he had. and i would have no problem standing up and saying that taco bell has done nothing and that's contrary to ours and our laws. it would look bad. but they wouldn't be legally
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responsible. >> that guy deserves compensation. [laughter] >> he should be in the hall of fame. [laughter] >> taco bell doing the right thing. i'm not even a lawyer but another broken health care promise? >> the governors and legislatures are working together to implement this in states like california and new york and colorado and maryland. neil: my next guest says what was sspposed to be this for the democratic run state is now its biggest embarrassment. so i deserve a small business credit card with amazing rewards. with the spark cascard from capital one, i get 2% cash back on ery purchase, every day. i break my back around he.
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finally soone's recognizing me with unlimited rewards! meetings start at 11, cindy. [ male announcer get the spark business card from capital one. choose 2% cash back or double miles on every purchase, every d. what's in your wallet? i need your timesheets, larry! what's in your wallet? every day we're working to and to keep our commitments. and we've made a big commitment to america. bp supports arly 250,000 jobs here. through all of our energy operations, we invest more in the u.s. than any other place in the world. in fact, we've invested over $55 billion here in the last five years - making bp ameri's largest energy investor. our commitment has never been stronger.
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neil: yes, those are the screams falling off a cliff of american states. the administration might think that health care.gov is good to go nationally, but this is all local, my friends. and you won't believe how many problems are happening locally. the focus is on the state of maryland. keep in mind that the president first blamed it on all those republican governors that have been reluctant to sing the praises of obamacare and even when they had them up and running, it's not working. we have michelle fields who says what was supposed to be the democratic model of success has now become just the opposite.
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what is going on? >> yes, now, they were the early either adopters of obamacare. and unfortunately it has not been good for the state of maryland. they canceled about 70,000 plants because of the obamacare regulation and then all of michigan's health care plans were decided to be canceled because it was going from $50 a semester to $900 per semester. >> and has not been good. neil: a lot of people say you are exaggerating the exception and i know it's not just a small exception because this is happening times millions across the country and in states that have this all all working to the president's liking. it is not going well, and it's getting worse.
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>> they have about 150 people on call answering complaints and this is a blue state, a solid blue state. these are the people who were in favor of obamacare. who were rooting for obamacare. but they don't like you because they're having so many problems with of course the website and it's freezing. >> i can speak to young people like you because i don't care exactly, but i will say that young people are finding out and there's a reason why i think your generation is pretty savvy. you find out that it's not really worth it, so even those who are getting on our finding that it's not worth their trouble. >> it is not. it's troubling considering it's a blue state. these are the ones who are rooting for obamacare and they don't like it. neil: the big thing that they don't like is what? >> i think young people are not
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the type of people who will continue to refresh the website page to see if it works and to sign up. those people that are going to do it are the people that are ill and need health care. young people, if it doesn't work, they're not coming back. and these people are seeing the amount that we have to pay. because they are going to have to pay higher premiums in order to subsidize the older and sicker people and it's not a good deal for us. why not just take the penalty? >> all right, young people are fed up. >> we just on't have patience. neil: michelle, thank you. the great news is the economy is officially on fire. the gdp is up in the latest quarter. good news is bad news on wall street. and i'm getting awfully sick and tired of wall street.
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neil: the good news is i can almost play this out. the economy is going at a robust 3.6% rate and that's great. what are you, blitzed? it means that we are doing almost too great and wall street doesn't like us doing remotely great. because it means that the federal reserve has no reason to keep this great party going on and that's not great. and with the $85 million a month thrown at us month in and month out, going away and it's not great. this could be happening sooner than we think. let's have jonathan hoenig explain are you buying into that and would you be buying that now? >> the market seems to be suggesting that. not just the data that we have the last couple of days, but
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also a lot of the actual stock actions within the market itself. reaching the llmited partnerships, all of the dividend oriented stocks and investments that people made because of government intervention. which you alluded to. you need low interest rates that cause people to make an investment based on assumptions and this could get out of line very quickly this continues. neil: the recovery could be picking up, believe it or not. you by economically sensitive issues or the indexes themselves? >> yes, i think you would with some of these issues, but i think that we are getting a little bit ahead of ourselves and i don't think quite yet that the fed is going to show signs of tapering. mitch mcconnell was more reticent than mitch mcconnell.
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we have seen an incredible run-up in the market because of what john has just said. neil: you are keeping rates very low right through 2017. so have we got behind the curve? >> no doubt about it. the market will bounce back. this is really tough because good news has been good news and good news has been bad news. it is a very politically sensitive market. >> keep in mind that we keep using this term paper like it's an effort list friction free maneuver and i think what is more likely is a crash or a correction. thinking about housing and avenel and education and all the areas of the government as a result of wealth destruction and that is what we are going to see. neil: for housing and begetting
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out of housing. >> i think anything that has been predicated is in the process of blowing up in our faces. neil: you are getting calls for christmas. cool shopping store opening up a round-the-clock for shopping. the discomfort you or were you? >> we are mentioning them on fox business. and they are getting tons of business. this is like wal-mart. every year wal-mart has a new spin on how they're going to lower prices because of the economy to get masses massive amounts of free marketing. every news channel is talking about kohl's and this is a great pr push for this country. >> they could be getting
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negative pr. >> some of it is. >> people are saying that this shows a lot of stores are doing nothing kind of antagonistic response about being open over thanksgiving. all of thanksgiving and christmas, it's probably not in the too distant future. so what is going to happen with the people attached? i think it's good they will be open on christmas and i think the investors will thank them for it. neil: well, in the meantime, do you hear that? ♪ ♪ neil: these guys will be listening and watching closely tomorrow. >> ford is coming out with a different version and republican automakers are making calls that nobody wanted.
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but the good news is that it's the biggest news looking forward in the market. neil: what do you think, john? >> interesting news inside the market. in november you saw gold crashed to a yearly low as anticipations would taper and we could see the same thing for bonds of the data continues to be encouraging. so i think you could see rates and in terms of my own investments, a lot of people are too complacent and about the move. so we are keeping a close eye on interest rates. neil: what is that exactly? >> it is short gold and short bonds as well. expecting higher interest rates and lower gold prices. that has been the trend is the one what do you think? >> it was up about 22% on the
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earnings, and i think -- we always say this, i think that the evaluations have gotten ahead of themselves. constituency booby stars. [laughter] >>. >> to be a service to our president. >> they are eager to support their president how. >> they had no where to return until he arrived. >> don't how how. >> is specially the egalitarian system, not to stop the violence.

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